Highlights
- Drilling has started at the Bitterwasser Lithium-in-Brines Project.
- Nearly 700m drilling is planned over nine vertical drill holes sited at six locations.
- The drilling campaign aims to discover mineralised brine aqueous bodies having elevated lithium levels and related mineralisation.
- Assays are expected by January next year.
Arcadia Minerals (ASX:AM7) Limited (ASX: AM7, FRA: 80H) has kickstarted drilling at the Bitterwasser Lithium Brines project. The drilling covering 700m is planned over nine boreholes located in six locations.
The main target comprises six holes at three sites under a 42km x 9km geophysical anomaly discovered via an airborne geophysical survey. Here, lithium mineralisation in brines was intercepted 28m below surface.
The drill sites have been selected in consultation with Klohn Crippen Berger (KCB) by referencing the geophysical survey undertaken by AM7, additional geophysical interpretation by KCB and the data obtained from a stratigraphic drilling program completed in April 2023. Geophysical interpretation by KCB highlighted two distinct aquifers at different depths within the project.
The objective of the drilling campaign is to identify a mineralised brine aqueous bodies having elevated levels of lithium and related mineralisation.
The results from the drill campaign are expected by the end of January 2024.
AM7 shares traded at AU$0.090 apiece on 17 November 2023.